glasgow, united kingdom, July 30, 2011 — One of the UK’s Top Banks, Barclay’s is offering up 0% for two years balance transfer deal to customers in a bid to cut costs of clearing debt.
Breaking the record for the longest ever 0% balance transfer deal has put the bank ahead of Halifax, who recently launched a 20 month balance transfer deal. The move from bankers signifies a new thirst to attract new credit card customers.
Personal finance expert at uSwitch.com said, “Having a market leading product is only great for customers if they can get it.”
As banks are being much fusser in who they accept, some question if the new card is just for show or will consumers actually benefit from it. And others raise the question whether many consumers will even go for the idea.
With the average interest rate on credit cards standing at 18.7%, experts say customers who go for the card should be careful and refrain from making new purchases on the card; as the interest rate could potentially pile up at an increased rate.
Trust Deed Scotland is debt counselling service that offers help and solutions to those struggling financially with debts over 10,000. A Scottish Trust Deed is a great way to solve serious unsecured debt problems. The trust deed can have you debt free within 36 months, although it stays on your credit file for up to six years. Trust Deeds are only available for residents of Scotland. Log onto www.trustdeedscotland.net for more information.
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